Design Therapeutics (NASDAQ:DSGN) Sees Large Volume Increase – Time to Buy?

Design Therapeutics, Inc. (NASDAQ:DSGN) saw an uptick in trading volume on Monday . 1,054,608 shares traded hands during trading, an increase of 321% from the previous session’s volume of 250,747 shares.The stock last traded at $10.24 and had previously closed at $10.18.

Analysts Set New Price Targets

Several research firms recently weighed in on DSGN. Oppenheimer initiated coverage on Design Therapeutics in a research note on Wednesday, January 7th. They issued an “outperform” rating and a $18.00 price objective for the company. Leerink Partners set a $14.00 target price on Design Therapeutics and gave the company an “outperform” rating in a report on Wednesday, December 3rd. Wall Street Zen cut Design Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a research report on Wednesday. Finally, Royal Bank Of Canada raised shares of Design Therapeutics from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $6.00 to $13.00 in a research note on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $15.00.

Design Therapeutics Stock Up 2.8%

The business’s fifty day moving average price is $9.28 and its 200 day moving average price is $6.94. The firm has a market capitalization of $595.80 million, a PE ratio of -8.79 and a beta of 1.63.

Design Therapeutics (NASDAQ:DSGN) last announced its earnings results on Wednesday, November 5th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.04. As a group, sell-side analysts forecast that Design Therapeutics, Inc. will post -0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Design Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Woodline Partners LP purchased a new position in Design Therapeutics during the first quarter worth about $2,492,000. Jane Street Group LLC purchased a new position in shares of Design Therapeutics during the 1st quarter worth about $70,000. Strs Ohio purchased a new position in shares of Design Therapeutics during the 1st quarter worth about $87,000. Los Angeles Capital Management LLC acquired a new stake in shares of Design Therapeutics in the second quarter worth approximately $43,000. Finally, Geode Capital Management LLC grew its holdings in Design Therapeutics by 2.4% in the second quarter. Geode Capital Management LLC now owns 794,008 shares of the company’s stock valued at $2,676,000 after purchasing an additional 18,511 shares during the period. 56.64% of the stock is currently owned by institutional investors and hedge funds.

Design Therapeutics Company Profile

Design Therapeutics, Inc a biopharmaceutical company, researches, designs, develops, and commercializes small molecule therapeutic drugs for the treatment of genetic diseases in the United States. The company utilizes its GeneTAC platform to design and develop therapeutic candidates for inherited diseases caused by nucleotide repeat expansion. Its lead product candidates for potentially disease-modifying treatment comprises Friedreich Ataxia, a monogenic, autosomal recessive, progressive multi-system disease that affects organ systems dependent on mitochondrial function that brings to neurological, cardiac, and metabolic dysfunction; Myotonic Dystrophy Type-1, a dominantly-inherited, monogenic progressive neuromuscular disease affecting skeletal muscle, heart, brain, and other organs; Fuchs Endothelial Corneal Dystrophy, a genetic eye disease characterized by bilateral degeneration of corneal endothelial cells and progressive loss of vision; and Huntington's Disease, a dominantly inherited, monogenic neurodegenerative disease characterized by movement, cognitive, and psychiatric disorders.